GETTY COPPER INC . Trading Symbol
1000 Austin Ave., Coquitlam, B.C., Canada V3K 3P1
Tel: 604.931.3231 Fax: 604.931.2814
www.gettycopper.com TSX Venture Exchange: GTC E-mail: [email protected]
GETTY COPPER INC .
Trading Symbol TSX V: GTC
NEWS RELEASE
Getty Copper Inc. Announces Special Meeting Requisition
July 17, 2018
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John Lepinski, CEO and Managing Director of Getty C opper Inc. (the " Company " TSXV:GTC ) has
requisitioned a special meeting of shareholders (th e “ Special Meeting Requisition”) under section
143(1) of the Canada Business Corporations Act , for the purpose of removing certain directors: na mely
Donald Willoughby, Dennis Milburn, and Edward Robin son (the " Impugned Directors "). Removal of
the Impugned Directors will require a majority of v otes cast at a special meeting of shareholders whic h
will be convened as soon as practicable in accordan ce with the provisions of the Company’s Bylaws and
the Canada Business Corporations Act .
The Special Meeting Requisition was precipitated by a notice issued by Dennis Milburn calling a Board
of Directors Meeting for July 11, 2018 to approve a term sheet from Inter World Investments (Canada)
Ltd. (“Inter World”), a company controlled by John Park of Vancouver, B.C., proposing a debt and equity
financing subject to certain conditions including d ue diligence review, completion of a definitive
agreement and TSXV acceptance (the “Financing Propo sal”). In the face of the Special Meeting
Requisition, the Financing Proposal received favourable votes from each of the three Impugned Director s
and was opposed by the three others, with the curre nt Chairman, Dennis Milburn, casting the deciding
vote in favour of the Financing Proposal on the dea dlocked six-person board. It is the position of Jo hn
Lepinski and the other two directors voting against the Financing Proposal that the Financing Proposal
will be detrimental to the Company and therefore no t in its best interests or that of its shareholders and
that the resolution approving the Financing Proposal is invalid.
Under the Financing Proposal, Inter World or an aff iliate thereof, inter alia , proposed to loan the
Company up to $1,000,000 for a term of 5 years, to be secured by a first charge over all of the assets of
the Company and its subsidiaries, with the proceeds thereof to be used to pay out the existing secured
debenture, held by Robak Industries Ltd, a company controlled by John Lepinski. In addition, Inter
World, or an affiliate thereof, proposed to subscri be for 24,194,774 common shares of the Company at a
price of $.05 per share, with the total proceeds of $1,209,738 to be used for working capital, the
reimbursement of Inter World’s expenses in connecti on with the Financing Proposal and further
development of the Company’s Properties. Inter Wor ld, or an affiliate thereof, will hold 19.9 % of th e
outstanding common shares of the Company post-issuance.
The Impugned Directors own an aggregate of 856,666 shares of the Company, representing
approximately 1% of the outstanding shares, and the directors opposing the Financing Proposal, including
John Lepinski, own an aggregate of 38,490,666 share s, representing approximately 35.5% of the
outstanding shares.
GETTY COPPER INC.
John Lepinski
Managing Director
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release